r/WeirdGOP • u/Glitterandglitz21 • 1d ago

MAGA Misinfo. This is what happens when you didn’t pay attention in economics 101

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249 Upvotes

99% Upvoted

50 comments sorted by

160

u/RemBren03 1d ago

Wow, they gobbled that surgery talking point right up. Also, who's giving us 6 Trillion?

161

u/refusemouth 1d ago

Yep. The goebbeled it up, alright.

12

u/Gold_Factor1266 18h ago

Yes, Joseph Goebbels at work…

95

u/Sanpaku 1d ago

US total imports are about 3.8 trillion a year.

The announced tariffs are about 20% on average, given all the exemptions. So perhaps 600 billion a year.

Budget figures are usually presented in their effects over the next 10 years.

So, over the next 10 years, American consumers, mostly of the working and middle classes, would pay an additional 6 trillion in tariffs.

And of course this would permit the wealthy of America a 6 trillion income tax cut to top marginal rates and corporate income tax rates.

It's the greatest transfer of wealth from regular people to the rich ever conducted. And Congress wasn't permitted to vote on it.

44

u/Big-Summer- 1d ago

And dumbass MAGAts think they’re going to get rich, like Elon and trump are going to share it.

21

u/transmogrify 1d ago

Lol, if they are using pre-tariff import figures then they are assuming that the tariffs don't affect the amount of imported goods at all. Wasn't the point supposedly to protect US industries by giving domestic goods a price advantage?

18

u/vxicepickxv 1d ago

The purpose of the tariffs is to create a national sales tax and use the taxes as an excuse to cut taxes on money hoarders.

Side thought, why is hoarding frowned upon unless it's money.

15

u/Johnsoline 1d ago

Congress is able to vote on it but they passed a bill a hundred years ago that cedes that power to the president.

6

u/Sanpaku 22h ago

All constitutional authority for raising Federal revenues resides in Congress.

There were a series of bills from 1930 to 1977 that ceded some authority to the president: The Tariff Act of 1930 (sec 338), the Trade Expansion Act of 1962 (sec 232), the Trade Act of 1974 (secs 122, 201, & 301), and the International Emergency Economic Powers Act of 1977. But in each case, the presidential authority requires a finding of a national security emergency or targeted unfair trade practices.

Before talk-radio and Fox et al turned a third of this country into gibbering loons who would elect one like themselves, no one anticipated that a president would abuse these laws to establish personal control over the American business community.

5

u/jenyj89 1d ago

Oh, Congress WAS PERMITTED…they were just too spineless to speak up and insist on doing their damn job!!

4

u/flatirony 1d ago

You’re correct about the consumer paying the tariffs, and about the wealth transfer. And I’m sure you’re correct about where they got the math.

The other problem is, their math assumes zero second-order consequences. The tariffs don’t crash the economy through stagflation and reduced consumption, the tariffs don’t result in reduced imports, etc. Obviously to anyone but these morons, the second order consequences are staggering.

2

u/Aromatic-Reach-7125 1d ago

Gush up economics

37

u/deathjoe4 1d ago

No no see, it's just a small typo. 6,000.000,000,000 is the correct number; basically the same thing.

17

u/Drifter_of_Babylon 1d ago

Probably 6 trillion in Zimbabwe dollars.

9

u/PlayingDragons 1d ago

Zimbabwucks

4

u/FanDry5374 1d ago

The stock market apparently, those $6 trillion lost over the past few days went somewhere, right?

3

u/ihateduckface 19h ago

Nobody. Thats 6 trillion that’s getting passed along directly to the American citizens. It’s a 6 trillion dollar tax

78

u/LA_search77 1d ago

... and Elon put a $5k DOGE dividend check in the mail for us all. I'm still waiting for mine. I can't wait because I'm about to be evicted.

Trump is amazing.

America is great again and it was all so easy.

/s

13

u/jenyj89 1d ago

I’m still waiting on my big riches from Reagan’s trickle down bullshit…so here we are!

36

u/kelsnuggets 1d ago

Why the hell are there 803 likes on this nonsense? That’s the scary part

4

u/hec_ramsey 1d ago

What app even is that?

3

u/kelsnuggets 1d ago

LinkedIn

2

u/Obvious-Gate9046 23h ago

At first I thought facebook, it looks like facebook, but one of the like symbols is not a Facebook symbol, so no idea.

34

u/Gunrock808 1d ago

I feel very fortunate, I changed my college major in my third year which required me to take macroeconomics and I'm so glad I did. Decades later I actually do remember a lot of what was discussed about tariffs.

The problem is most Americans never take a college level economics in the first place.

19

u/Pristine-End9967 1d ago

Im a humble landscaper who blasts bloomberg (and death metal) all day, and have learned so much in the last six years.  I feel as if you or I are more qualified than anyone in his cabinet to be an economic advisor 😅

7

u/Ok-Repeat8069 1d ago

And unfortunately I talk to a lot of guys who listen to what they call economic podcasts but mostly what they seem to learn is that they aren’t “grinding” hard enough if they can’t pay cash for a house by 25 but they can make up for lost time if they buy enough memecoin.

2

u/Gunrock808 22h ago

This is the depressing thing about thy internet era, 30 years ago we thought access to information would solve all of our problems. We never imagined that bad actors and bad information would take hold and spread like cancer. Any asshole with a microphone can record a podcast and say that the earth is flat, space is fake, ivermectin cures cancer or whatever other nonsense springs into their pea sized brain.

3

u/Pristine-End9967 22h ago

I read that as "and MY ASSHOLE with a microphone can record a podcast....."  😂🤣 both are absolutely factual statements.

3

u/Gunrock808 22h ago edited 22h ago

I agree that we would probably be better cabinet picks than almost ANYONE in this administration, but what strikes me as really crazy is that unlike the other unqualified sycophants Peter Navarro actually has a PhD in economics. I listened to an interview with him on The Daily podcast from the NYT and he sounded pretty reasonable until he started getting into the whole tariff thing. There is no precedent or evidence that I'm aware of to support his ideas. He is way out in left field.

The a Atlantic has a good article pointing out that there really hasn't been an articulate explanation for what the tariffs are supposed to achieve or how.

You know maga is delusional because they've even talked about getting rid of taxes and replacing them with tariffs. Considering that the value of imports and the amount collected in taxes are in the realm of $5 trillion dollars that would mean slapping 100% tariffs on every single import. No one is buying anything that has a 100% tax! All those companies would just exit the US market. And if they all magically moved production to America like trump wants well then poof there goes any tariff revenue.

3

u/Pristine-End9967 22h ago

Thats extremely concerning.  I actually had no idea that peter navarro had a phd in economics.  The dichotomy of their messaging is just so blatant to me.  Btw, all 3 other employees at our (admittedly tiny) landscape conpany all voted for trump.  Against their best interests.  My parents, luckily, are both lawyers with degrees in history, and has given me a penchant for geopolitics in a big way.  Ive learned to follow the macro trends, and invested capital into the markets tactfully and racked up something like 700k in a little over 10 years. I honestly feel bad for them, and the fact that they are oblivious to the fact that they've been played.  Marks for Trump, 2028 🫠

1

u/Username_redact 21h ago

Bloomberg is the most educational financial channel out there. The experts they bring on are at the top of their field. My mentor at work is on occasionally, she is brilliant and great at making complicated topics simple

1

u/Additional-Top-8199 12h ago

Externalities!

13

u/gomezwhitney0723 1d ago

I can make up numbers too! Not that this is even remotely true, but his cult is dumb and they know it. They know they feed on the lies. Not once have they EVER posted evidence to back up these “truths.” Then, when they repeat this and you ask for proof, they just repost this picture.

10

u/ChuckThisNorris 1d ago

"Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.

Some $6.6 trillion of that figure has occurred on Thursday and Friday alone, the largest two-day wipeout of shareholder value on record, Dow Jones data showed."

So to give MAGAs an "argument" back in their limited heads, Trump has commited 6 Trillion back...

Yes, it is as stupid as it gets.

10

u/JuliaMakesIt 1d ago

6 trillion in PENGUIN dollars… 🏅

2

u/jenyj89 1d ago

The fucking penguins folded?? They paid him off??

6

u/woahwoahwoah28 1d ago

I’m sorry. Is this LinkedIn?

7

u/Organic_Tradition_94 1d ago

Well they’ve definitely got about 7 billion middle fingers

4

u/Willdefyyou 1d ago

Lutnick is such a shithead

4

u/mam88k 1d ago

It's also what happens when a news outlet lies through omission, known as Fox News 101.

3

u/TechnologyFun8803 1d ago

This sounds like some VC bro talking about all the capital his Dad’s friends “committed” to his fund. The worst part is that makes no sense whatsoever.

2

u/lbr218 🇺🇸 I Voted Early! 1d ago

Okay but what does this have to do with #thinblueline

1

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1

u/homebrew_1 1d ago

Where is my check?

1

u/OhShitItsSeth 22h ago

Owner, Law Enforcement Today

Seems like he has a lot to gain from a Trump presidency

1

u/UsernameUsername8936 21h ago

Given that the total value of the entire US stock market is currently $32 trillion, colour me skeptical.

Also, just tried to listen to the speech where he announced it. It was so dumb it hurt.

1

u/JPGinMadtown 18h ago

He's cost the economy $11 trillion since taking office again. The scales are nowhere near balanced, even if this blather was true.